NABARD Launches Climate Strategy 2030 to Mobilise Green Financing
The document was released on Earth Day by NABARD Chairman Shaji K V. This comprehensive strategy aims to address India’s escalating need for green financing.
April 24, 2024. By Anurima Mondal
The document was released by Shaji K V, Chairman, NABARD. This comprehensive strategy aims to address India’s escalating need for green financing.
Despite the pressing demand, where India requires approximately USD 170 billion annually to reach a cumulative total of over USD 2.5 trillion by 2030, current green finance inflows are critically insufficient.
As of 2019-20, India garnered about USD 49 billion in green financing, merely a fraction of what is needed. With the majority of funds earmarked for mitigation, only USD 5 billion was allocated towards adaptation and resilience, reflecting the minimal private sector engagement in these areas due to challenges in bankability and commercial viability.
NABARD’s Climate Strategy 2030 is structured around four key pillars to address this demand accelerating green lending across sectors, playing a broader market-making role, internal green transformation of NABARD, and strategic resource mobilization.
This strategic initiative not only reinforces NABARD’s commitment to environmental stewardship but also positions it as a pivotal player in India’s transition towards a resilient and sustainable economy.
please contact: contact@energetica-india.net.
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